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PFC Appoints V. Packirisamy as Director (Commercial)
V. Packirisamy has been appointed Director (Commercial) at Power Finance Corporation (PFC), effective June 2, 2026. A PFC veteran since 1997, he has played a key role in appraisal frameworks, risk assessment, and business growth while contributing to major power-sector initiatives. Read more about V. Packirisamy's appointment as Director (Commercial) at PFC.
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i forgot i made a lot of old fanart for a character in the revamp of a comic i liked, they only had two panels at the time and grew up to be mean girl but at the time i loved them for their one singular line: "Stairs?" that was all i needed to know anyways i've kinda made a split off version from the original in my head and i'm probably gonna turn them into an oc later
PFC and REC boards to meet May 16 to deliberate merger; combined entity to manage loan book exceeding Rs. 15 lakh crore
Power Finance Corporation Limited and REC Limited have separately announced board meetings for May 16, 2026.
Both boards will deliberate on their proposed merger.
The move could combine India’s two largest power-sector lenders into one financial institution.
The merged entity would manage a loan book exceeding Rs. 15 lakh crore.
This would create one of India’s largest infrastructure finance platforms.
Board meeting details
PFC and REC filed separate board meeting intimations on May 13, 2026.
Trading windows for both companies have been closed from May 14, 2026.
The closure will remain in force until further orders.
This signals that both companies are considering a material corporate transaction.
Strategic background
PFC and REC are both Maharatna Government of India enterprises.
Both operate under the Ministry of Power.
Both finance power generation, transmission, distribution, renewable energy, and related infrastructure.
Their borrower base overlaps across NTPC, NHPC, PGCIL, state DISCOMs, and private renewable developers.
Scale of combined entity
PFC’s total assets exceed Rs. 9 lakh crore.
REC’s loan book is above Rs. 5.9 lakh crore.
A merger would create a combined balance sheet of more than Rs. 15 lakh crore.
This scale would give the merged entity stronger bargaining power in domestic and international debt markets.
It could also support larger green bond issuances.
Merger rationale
The merger could reduce competitive overlap between the two lenders.
It could also lower funding costs through scale.
A single larger institution may simplify project financing for large power-sector borrowers.
It can also provide larger single-counterparty lending limits for mega transmission, renewable, hydro, thermal, and distribution projects.
Shareholder issue
For minority shareholders, the merger ratio will be the most important valuation event.
PFC’s market capitalisation is approximately Rs. 1.4 lakh crore.
REC’s market capitalisation is approximately Rs. 1.2 lakh crore.
Determining a fair share-swap ratio will require careful consideration of book value, profitability, asset quality, growth outlook, and dividend profile.
PFC dividend
PFC also recommended a final dividend of Rs. 3.95 per equity share for FY26.
This is in addition to Rs. 14.60 per share already paid as interim dividends.
The total FY26 payout therefore stands at Rs. 18.55 per share.
The dividend signals strong cash generation even as merger deliberations move forward.
Regulatory approvals
If the boards approve the merger, the transaction will require multiple clearances.
These may include approvals from SEBI, RBI, the Ministry of Power, the Ministry of Finance, stock exchanges, shareholders, and potentially the National Company Law Tribunal.
The full execution process could take 12 to 18 months.
Sector impact
The merged entity would become the dominant power-sector financier.
It could play a major role in funding India’s 2030 renewable energy targets.
India’s energy transition may require more than Rs. 20 lakh crore of new infrastructure financing.
A larger PFC-REC platform could be central to mobilising that capital.
Strategic message
The May 16 board meetings mark the clearest formal signal yet of a possible PFC-REC merger.
If completed, it would reshape India’s power-sector finance landscape.
The combined institution would have unmatched scale, a massive loan book, deep PSU linkages, and major relevance for renewable energy, transmission, distribution reform, and conventional power investment.
For more such stories, go to www.energylineindia.com
GIFTS GIFTS GALORE
HAPPY BIRTHDAY TO MY BESTEST BESTEST FRIEND FOREVER IN THE WHOLE WIDE WORLD IN ALL THE WORLDS AND UNIVERSES EVER YAYYYYYYYY
ps I’m sorry for that I was like not good sometimes I’m really really sorry
pps HAPPY BIRTHDAY
HAPPY BIRTHDAY!! I hope MOST of your wishes come true (I can’t say all of them idk wtf you’re wishing) (also don’t ask how I got some of this.)
it’s your birthday so I stole a loaf of breaaaaad
HAPPY BIRTHDAY!!
Reading the little note Pixie wrote, she stopped when she saw the first P.S. .
She had been trying to forget that for a while, but remembering it brought back a slight fear like a pit in her stomach. She quickly folded up the note. As for the gifts, she quickly regained her smile because of them. Simply extravagant! Especially those angel wings. I'm SO wearing those for a Halloween costume this year, she thought.
Harunii stifled a laugh at Elizabeth's note as she read it. I mean, even if she didn't know what she was wishing, she sure did make some of them come true based off the gifts she gave her.
As for the random loaf of bread, she first inspected it to make sure it was safe to eat. Then, she decided to let herself indulge in some for today. She plopped a slice of toast into her mouth and practically inhaled it as if she didn't have anything else to eat that day. And then she ate the rest of the slices. Yum!
you the birthday
``Hmmmm.... maybe!! ♪～(´ε｀ )``
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i sent your author one but your getting one to acrobat harunii
Author star says happy birthday
``My author?? You know what, I'm not gonna think about that right now. There's only so many things I can think about...``
``Thank you!``
hapy birtday umh haruni i i dont no wat a birtday is yet🎉 -STICKZ
``STICKZ!!! Thank you!!``
``Haha, a birthday is like the day someone was born. And then for years and years, people have a celebration for that person for turning one year older than when they were born. HUGE deal in my opinion.``
We wish you a happy birthday, Harunii.
-Y
``Thank you, um, Y!``
